Sentences with phrase «after defaulting on their mortgages»

She and her two kids are being kicked out of their home after defaulting on the mortgage.

Not exact matches

The lawsuit stems from losses the pension fund suffered after the collapse of the housing market and defaults on formerly AAA - rated securities that were backed by pools of residential mortgages, Calpers said in a statement.

«After five years, very few people default on their mortgages,» he observes.

Not long after she took charge in June 2006, Bair began sounding the alarm about the dangers posed by the explosive growth of subprime mortgages, which she feared would not only ravage neighborhoods when homeowners began to default — as they inevitably did — but also wreak havoc on the banking system.

The SEC complaint goes on: ``... after participating in the portfolio selection, Paulson & Co. effectively shorted the RMBS [Residential Mortgage Backed Securities] portfolio it helped select by entering into credit default swaps (CDS) with Goldman Sachs to buy protection on specific layers of the ABACUS capital structure.

Lenders set their mortgage rates in order to offset the risk of borrower default, and also to make some profit on the loan (it is a business after all).

After the media saturated homeowners with house crash hysteria, many started defaulting on their mortgages, mortgage security values collapsed, and that triggered bankruptcies.

After all, AIG was already writing financial reinsurance through default swaps on such mortgages, why not add to a winning bet?

Sovereign Bank in 2010 filed to foreclose on the arts venue after it defaulted on a $ 6.5 million mortgage the bank had provided in late 2006, court records show.

Lender tells me that I have to wait 3 years after FHA paid off the lender but I have special circumstances on the mortgage default.

The manner in which the IRS treats it depends on whether the mortgage is a recourse or nonrecourse debt, which has to do with what assets a lender can go after following default.

According to the management, the reserve mortgage market is underserved and major banks and insurance companies have exited the reverse mortgage space after seniors defaulted on their obligations to pay taxes and homeowners insurance.

After all, if you default on a mortgage, a lender is left holding the bag.

Lenders, after all, like to see clients lay down a sizable chunk of change before they fork over a mortgage, because this shows you have skin in the game and lowers the odds that you'll default on your loan.

A long term consequence of default could be the drag factor it has on your credit score — making it difficult to get financing on loans, mortgages or credit card for years after the original default.

Ark's Mortgage Assistance Program (AMAP) has been helping struggling homeowners by finding ways to help them stay in their home as long as possible — even after they have defaulted on their mMortgage Assistance Program (AMAP) has been helping struggling homeowners by finding ways to help them stay in their home as long as possible — even after they have defaulted on their mortgagemortgage.

After all, AIG was already writing financial reinsurance through default swaps on such mortgages, why not add to a winning bet?

Carlyle Capital Corporation receives a default notice after failing to meet margin calls on its mortgage bond fund.

As it was just simply way too much house and not what we wanted for ourselves anyway (and, actually, being stuck with the entire, very expensive mortgage payment was not an option), we opted to strategically default and put it on the market as a short sale after being denied a loan modification that might've made it affordable for us to stay.

It is also worth noting that many landlords do credit checks these days, so a person with fresh default on the credit records may not receive a warm welcome - after all, if one is willing to default on the mortgage, why not stop paying rent when it seems too high?

At the end of the day both approaches are a risk that lenders make, and the latter appears to be more of a risk than the former, and the leading reason why many default on their mortgages, not because their IBR could «theoretically» change after 12 months.

• Since the year 2010, almost 270 churches have gotten sold off, after they have defaulted on the mortgage loan payments, and the 90 % of the home sales resulted after foreclosure chain which was triggered off by the lenders.

Lastly, buyers who are current and have not defaulted on their mortgage may purchase a new home the day after the short sale has closed escrow.

Earlier this year, the Caisse was forced to buy a New York office building on which it held low - ranking mortgage of $ 130 - million (U.S.) after the building's owner, Macklowe Properties, went into default.

Any default that occurs on your mortgage after that time would be your responsibility and can not be discharged with the debts that you included in your bankruptcy.

Then after these loans would process and the payments would be dealt out, the broker or the borrower or both, would sometimes flee the area and default on the mortgage.

«This has an adverse effect on homeowners who do pay their mortgages, and the after - effects of more defaults and more price collapse could be economic catastrophe.»

When a borrower defaults on a mortgage loan in Virginia, the lender usually has a right to pursue the borrower for a deficiency — the amount still owed on the loan after the net proceeds of the foreclosure sale have been applied to the loan balance.

«Our research demonstrates that borrowers, after controlling for their propensity to default based on traditional mortgage credit characteristics, default at a higher rate the higher the propensity of natural disaster is at the property level,» the CoreLogic report concluded.

Meanwhile, a study of 71,000 home loans by University of North Carolina researchers reveals that mortgages on energy - efficient properties are 32 percent less likely to default — even after controlling for the borrower's income, credit scores, home values, and local utility costs.

NEW YORK — After initially acquiring a defaulted mortgage on 576 Fifth Ave., Savanna has acquired the Midtown Manhattan property for an undisclosed purchase price.

Because of this distinction, sellers who are already in default on a mortgage and do not have the resources to pay off a separate promissory note after a short sale might be better off letting the lender foreclose, he says.

Couple that with the FACT that mortgages of the last 5 years have been of MUCH higher credit quality (no more people that couldn't buy homes could anymore, and are therefore less likely to default), we see an ever - improving real estate market that should stand on its own after years of being propped up by Washington.

Comments Off on Florida Foreclosure Defense: California's Jackmon Case — Suing Bank for Failed Modification Agreement — Claiming the Lender Breached a Contract After Deal Was Made to Lower Mortgage Payments Tags: Bank of America Foreclosures, BofA Foreclosures, Broward Real Estate, Florida Real Estate Foreclosures, Foreclosure defense attorney, foreclosure defenses, Foreclosure Fraud, Foreclosure Help, Foreclosure Settlement, Short Sale Counseling, Short Sales, strategic default, Underwater Mortgage, Wrongful Foreclosure

Lenders set their mortgage rates in order to offset the risk of borrower default, and also to make some profit on the loan (it is a business after all).

After completing a Deed in Lieu, we may report it to the credit bureaus as «Deed received in lieu of foreclosure on a defaulted mortgage; there may be a balance due».

Foreclosures on these mortgages have been on the rise after a 2011 mandate from HUD requiring loan servicers to work out a repayment plan with seniors in tax and insurance default — or to foreclose if there is no way to help them.

Last fall, after Cornerstone defaulted on its $ 78.5 million mortgage, the lender, LNP Partners, took the property back.